Saving Tax on Investment Real Estate

Nobody likes to pay taxes. But not everyone knows strategies to make sure they only pay the minimum. My legal expertise could save you big money on the tax when you sell investment properties!

Check out this short interview I did in 2011. It was recorded when RMLO Law LLP was still called Ritchie Mill Law Office. #TBT #ThrowBackThurday

 

Buying or selling property in Alberta? Contact Barry now.

How Did You Get Started in Real Estate?

Focus on Real Estate: Quick Tips.

Ever wonder how a university student could become a real estate investor? This video gives a bit of Barry’s personal background. It explains how he purchased his very first rental property when he was just 22 years old!

This is the second instalment of Focus on Real Estate with Barry C. McGuire, a new series of videos that provides bite-sized pieces of investment wisdom.

Buying and/or selling real estate in Alberta? Barry can help. Contact him now!

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

#1 Biggest Trick to Investing in Real Estate

Focus on Real Estate: Quick Tips.

Looking for quick tips on real estate investing? Focus on Real Estate with Barry C. McGuire is a new series of videos that provides bite-sized pieces of investment wisdom.

The first video tackles the biggest trick to real estate investing. The tip is simple: anyone can do it! Watch the video to find out why.

Buying and/or selling real estate in Alberta? Barry can help. Contact him now!

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

Buying Property Without a Bank

HouseForSale

Podcast Episode 81:
Agreements for Sale 2.”

I introduced Agreements for Sale (AFS) in a previous blog post and podcast, and now it’s time to review with a bunch more examples. In essence, AFS is a type of seller financing and is sometimes called a bond for title or contract for deed. The seller retains the title, but the buyer takes control of the property—all without needing a bank. Nowadays, this technique is uncommon, but it used to be more popular during and immediately after the Great Depression. Take advantage of this little-known strategy to find great Creative Investing opportunities!

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)

Continue reading

What is Rent-to-Own?

For Rent sign in front of a house.

Podcast Episode 80:
Rent-to-Own.”

Rent-to-Own (abbreviated as RTO and often interchangeably called a Lease-Option) is a two-part strategy. You start with a lease (the ‘Rent’ part) and add an option to purchase (the ‘Own’ part). In a Rent-to-Own scenario, the renter is, for some reason, unable to finance at the moment. Examples of financing problems are: bad credit, not enough down payment, self-employed, new job, or new immigrant. Yet, all these tenants want to make the transition toward home ownership immediately, usually for personal or emotional reasons.

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)

Continue reading

Creative Investing

Buying Real Estate

Podcast Episode 79:
Creative Real Estate Strategies.”

What is Creative Real Estate Investing? It is a method for making money with real estate that uses strategies like Rent-to-Own, Agreements for Sale, and Wholesaling, among others. This is an area not too many people know about, but it offers some tremendous opportunities. One of the things that differentiates Creative Real Estate Investment from the traditional Buy & Hold approach is that it works on a much shorter timeline.

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)

Continue reading

Assignments: Clever Investment Strategy or Malicious Shadow Flipping?

HandShake-450pix

Happy Canada Day!

Podcast Episode 78:
“Contract Assignments.”

The practice of selling one’s interest in a real estate purchase contract—a.k.a. an assignment—has been getting a lot of bad press in BC lately. In fact, the situation there may be changing thanks to government intervention. Contract assignments are a widely used and entirely legal procedure, but the laws governing them vary by location. We’re discussing BC, and then focusing on Alberta here. As always, the principles I explain are widely applicable—as long as you consult your local regulations.

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)

Continue reading

Title Insurance

HomeInsurance

Podcast Episode 77:
Is Title Insurance Worth It?

In Western Canada, title insurance was created to cover problems with real property reports, but did you know that it also covers many other issues? In this Tale, we have a case where the lender got title insurance, but the buyer/homeowner did not. When there was a $21,000 claim made regarding gap registration, the matter went to court. This problem could have been avoided with a mere $50 of extra insurance! Many of the Tales I tell are like this one, which is all about helping you avoid other people’s mistakes.

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)

Continue reading

Asset Planning & Protection

Money Frog

Podcast Episode 76:
The Power of Trust.

I’ve got a real bee in my bonnet about Asset Planning & Protection (APP). I have done Focus Workshops all about Legacy Planning, Asset/Corporate Structure, Insurance, and Tax Planning, but now it’s time to bring this focus back to my blog and podcast. It’s hugely important for all of us, but we are all so busy buying, selling, and managing real estate that APP always takes a back seat. I want you to have a much better general understanding of Asset Planning & Protection. Are we trying to turn you into lawyers, accountants, financial planners, or tax experts? No, absolutely not. But we are trying to help make you more informed and prepared!

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)

Continue reading